Defense & enterprise AI software
Palantir Technologies
A defense and enterprise AI-software company built around Gotham, Foundry and AIP. Q2 2026 revenue reached $1.935 billion (+93%), split almost evenly between government at $990.0 million (+79%) and commercial at $945.4 million (+110%). U.S. commercial revenue was $764 million (+149%) and U.S. government revenue was $809 million (+90%). Its platform connects defense and field-data partners, including Satellogic imagery and Edge AI.
Business categories Enterprise & Industry AI Applications · Cloud & Enterprise Software · primary
PLTR Updated Oct 10, 2026 7 AI consumers· 5 recurring
Per the valuechain.wiki graph, Palantir Technologies is directly linked to 4 companies (2 supply, 2 revenue relationships) and reaches 38 companies within two hops; the links are backed by 8 dated sources, 3 of them primary filings (as of 2026-10-10).
Financials & Segments
- Total revenue · Q2 2026 revenue $1.935B (+93%)
- Customer concentration · Government $990.0M (51%); commercial $945.4M (49%); U.S. revenue $1.573B
- Segments · Government (Gotham) · Commercial (Foundry/AIP)
Revenue from
- US government · defense (Gotham · AIP) High confidence· Revenue $990M · 2026 Q2 · Quarterly government-segment revenue
Supplies Gotham and AIP to government agencies. Q2 2026 government revenue was $990.0M (+79%), including $809M from the U.S. government (+90%).Confirms EN TradingView/Zacks Published Jan 1, 2026: Palantir +100% in 2025 on AIP and government deals - US commercial enterprises (Foundry · AIP) High confidence· Revenue $945M · 2026 Q2 · Quarterly commercial-segment revenue
Supplies Foundry and AIP to commercial customers. Q2 2026 commercial revenue was $945.4M (+110%), including $764M of U.S. commercial revenue (+149%). - Satellogic High confidence
A five-year strategic partnership supplying Foundry and satellite-borne Edge AI to Satellogic. Foundry supports imagery delivery, AI training and enterprise data integration; contract value was not disclosed.Confirms KO Naver Premium Content, Investment Farmer Published Dec 16, 2024: The Future Found in Space: Satellite Data and the AI Prediction RevolutionConfirms EN Satellogic Investor Relations Published Feb 1, 2022: Satellogic Announces Strategic Partnership With Palantir Technologies - Voyager Technologies Medium confidence
Palantir is the exclusive supplier of enterprise software and data-management solutions for the Voyager-led Starlab space station and a minority equity partner in the Starlab JV. Contract value undisclosed.Confirms EN U.S. SEC EDGAR Published Mar 10, 2026: Voyager Technologies, Inc. Annual Report (Form 10-K) FY2025Confirms EN Voyager Technologies (press release) Published Jun 25, 2024: Starlab Space Announces Strategic Partnership with Palantir Technologies, Inc.
Pays to
- NVIDIA Medium confidence
Uses NVIDIA GPUs and the Chain Reaction AI-infra platform.Confirms EN TradingView/Zacks Published Jan 1, 2026: Palantir +100% in 2025 on AIP and government deals - Oracle Medium confidence
Runs AI workloads on OCI and other clouds. - cloud · R&D (undisclosed) Low confidence
Cloud infrastructure and engineering.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Satellogic | lead1 | · | -68.6 | -42.6 | +62.9 | -34.4 | +175.4 |
| Voyager Technologies | lead1 | · | · | · | · | · | +4.3 |
| Palantir Technologies | node | -22.7 | -64.7 | +167.4 | +340.5 | +135 | -1.9 |
| NVIDIA | benef1 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.2 |
| Nan Ya PCB | benef2 | +110.6 | -46.7 | -0.5 | -38.3 | +188.2 | +280.5 |
| Micron Technology | benef2 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +256.4 |
| Unimicron | benef2 | +133.5 | -30.2 | +35.2 | -19.7 | +175.7 | +236.2 |
| ASE Technology | benef2 | +38.3 | -12.8 | +60.9 | +10.1 | +65.6 | +191.3 |
| Nebius Group | benef2 | · | · | · | · | +202.2 | +170.5 |
| Kioxia | benef2 | · | · | · | · | +1082.1 | +155 |
| Ibiden | benef2 | +30.4 | -19.6 | +51.6 | -38.6 | +261 | +149.3 |
| Lumentum | benef2 | +11.6 | -50.7 | +0.5 | +60.1 | +339.1 | +139.1 |
| Murata Manufacturing | benef2 | -14 | -11.7 | +24.7 | -16.5 | +29.9 | +131.5 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +105.7 |
| SK hynix | benef2 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +85.3 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| Coherent | benef2 | -10 | -48.6 | +24 | +117.6 | +94.8 | +69.4 |
| Samsung Electronics | benef2 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +63.8 |
| Delta Electronics | benef2 | -3.4 | +10.4 | -0.3 | +59.2 | +183.8 | +61.9 |
| Keysight Technologies | benef2 | +56.3 | -17.2 | -7 | +1 | +26.5 | +61 |
| Monolithic Power | benef2 | +35.5 | -27.8 | +79.8 | -5.6 | +54.5 | +53.7 |
| Analog Devices | benef2 | +21 | -4.9 | +23.4 | +8.8 | +29.8 | +51.1 |
| TSMC | benef2 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +50.3 |
| Wistron | benef2 | +7.9 | +9.7 | +272.7 | -1.6 | +22.7 | +49.7 |
| onsemi | benef2 | +107.5 | -8.2 | +33.9 | -24.5 | -14.1 | +37.4 |
| Pegatron | benef2 | -5.9 | +0.6 | +35.3 | +21.2 | -23.8 | +34.5 |
| Amphenol | benef2 | +34.9 | -12 | +31.5 | +41.3 | +96.1 | +29.8 |
| Eoptolink | benef2 | -10.1 | -27.7 | +136.6 | +197 | +368.8 | +29.1 |
| InnoLight | benef2 | -30.7 | -18.3 | +253.7 | +12 | +468.1 | +25.6 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| King Yuan Electronics (KYEC) | benef2 | +26.7 | -7.7 | +132.4 | +38.6 | +171 | +8.4 |
| Recursion Pharmaceuticals | benef2 | · | -55 | +27.9 | -31.4 | -39.5 | +6.6 |
| BlackRock | benef2 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | +2.8 |
| TE Connectivity | benef2 | +35.1 | -27.7 | +24.6 | +3.5 | +61.1 | -3 |
| Luxshare Precision | benef2 | -11.9 | -30.2 | -21.2 | +58.8 | +29.3 | -7.4 |
| BYD Electronics | benef2 | -56.1 | +16 | -0.4 | +60.6 | -19.4 | -24.1 |
YTD as of 2026-09-04 · source: Yahoo Finance
A defense and enterprise AI-software company. Its 2026 return is -1.9%, lagging newly connected customer Satellogic (+175.4%) and the existing space-demand node Voyager. Revenue rose 93% in Q2 and U.S. commercial grew 149%, yet the stock paused after its 2023-25 surge, an exception where valuation had already run ahead of results. The Satellogic link strengthens the route by which satellite imagery flows through Foundry and Edge AI into government decisions.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 2 · Hold 2 · Sell 1 · Avg. target $182 · Price $174.5 (09-05) · Upside +4%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| BNP Paribas Exane | Underperform | — | Jun 16, 2026 | Report ↗ |
| UBS Group · Karl Keirstead | Buy | — | Jun 16, 2026 | Report ↗ |
| Benchmark | Hold | — | Jun 16, 2026 | Report ↗ |
| Rosenblatt Securities · John McPeake | Buy | $225 | Jun 5, 2026 | Report ↗ |
| Cantor Fitzgerald | Neutral | $138 | May 22, 2026 | Report ↗ |
Initiated coverage at Underperform, arguing valuation runs well ahead of fundamentals.
Analyses covering this node
- The propagation was real and it had an order: the lag itself draws the chain Jun 23, 2026
- Many clocks: the information a single average erases Jun 23, 2026
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